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A Bank of England official is calling for more research into non-bank lenders.
This effort would help prevent a “credit crunch” that could result from a pull-back by hedge funds, pension funds, asset managers and insurers, Bank of England (BoE) deputy governor Sarah Breeden said Monday (Feb. 26).
“A shift in the willingness of market-based finance to lend to corporates, particularly those perhaps...
The Consumer Financial Protection Bureau (CFPB) has taken action to establish supervisory authority over installment lender World Acceptance Corp., saying it aims to ensure compliance with federal consumer financial protection laws.
“The CFPB has determined that World Acceptance Corporation has met the legal requirements for supervision,” the agency said in a Friday (Feb. 23) press release.
It...
“There’s an app for that.”
Fifteen years ago, that was Apple’s tagline for its iPhone, letting customers know that whatever they wanted a smartphone to do, they had an application that could do it.
Now, Germany’s Deutsche Telekom is introducing a phone that doesn’t have apps, and apparently doesn’t need them, Reuters reported Monday (Feb. 26).
Instead of apps, the company’s new “T-phone” uses...
Michael Hsu, CEO and acting comptroller of the currency for the Office of the Comptroller of the Currency (OCC), recently reiterated his agency’s commitment to mitigating any perceived risks in banking — especially those triggered by collaborations with FinTechs.
Speaking last week at Vanderbilt University, Hsu said he sees a “blurring of the line between banking and commerce,” which for him...
Google claims that Microsoft made several attempts to sell its search engine Bing to Apple.
That’s according to a report Monday (Feb. 26) by Seeking Alpha, citing a newly-unsealed post-trial brief from the U.S. government’s antitrust case against Google.
The Justice Department accuses Google of holding a monopoly in the online search space and says the company has spent billions to ensure its...
Open banking is transforming the banking industry. It grants third-party FinTechs access to the financial data and funds traditional financial institutions (FIs) manage. Doing so can pave the way to offering real-time payments. Consumers value the faster payment solutions, but FIs are reluctant to provide these solutions due in part to fears of rising fraud, especially as the speed of payment...
Today’s financial fraudsters are more sophisticated, more agile, and more online than ever.
With payments increasingly moving to electronic channels — along with the gateways supporting their transfer and settlement — the need for robust authentication measures has never been more critical.
“Authentication is an ever-evolving process,” Jim Colassano, senior vice president and business product...
Authentication in the payments space is continuously evolving.
But one constant is that any innovation needs to strike a winning balance between enhancing security and improving user experience.
“Identity theft, phishing and data breaches have all become more prevalent. So, more robust authentication has become crucial to ensuring that the person is the right person involved in a transaction,...
In the real estate business, how a property looks has a big impact on how potential buyers make a decision.
With so much at stake, real estate professionals have turned to AI in the buying, selling, planning and visualization of real estate.
“I wouldn’t disagree with the perception that the real estate industry has been slower to adopt technology historically,” Foxy.ai CEO Vin Vomero told PYMNTS...
Payments processor Thredd is predicting a thaw following last year’s “FinTech winter.”
The company said Monday (Feb. 26) that it had seen an “atypical” early-year increase in debit and prepaid payment transactions.
“Overall, organic transaction growth for January 2024 vs. the same period in 2023 is up 18% while BNPL [buy now, pay later], corporate spend managers and B2C [business to consumer]...